A Tanzanian court declared LCC fastjet Tanzania insolvent and has appointed a liquidator for the carrier, according to local media reports.
The small airline was the subject of a management buyout in late 2018 from parent fastjet Group and had little ongoing connection with the larger company, which operates in Zimbabwe and South Africa.
Fastjet Tanzania, which licensed the use of the name from the group, suspended services in December 2018.
According to Tanzanian newspaper The Citizen, the commercial division of the country’s High Court, sitting in Dar es Salaam, declared the airline insolvent and appointed a liquidator.
The company had been trying to restore services throughout 2019 and applied to the Tanzania Civil Aviation Authority earlier in November to operate scheduled and chartered services.
However, agency documents show the airline provided no timetable for its planned return to service or the length of the license for which it was applying.
Fastjet Tanzania had been under financial pressure for some time before it suspended services, with the revitalized national carrier, Air Tanzania, substantially increasing capacity in the country.
The airline could not be reached for comment
Source:ATW
